The government is pushing a plan to reflect work history of construction workers, platform workers and freelancers in credit evaluations. The move aims to improve access to loans for workers who face difficulties using financial services because their income is irregular or their employment types vary.

The Financial Services Commission, the Ministry of Employment and Labor and the Financial Supervisory Service said on Tuesday they signed a business agreement for inclusive finance for construction workers and labor providers with the Korea Federation of Banks, Korea Credit Information Services, the Korea Workers' Compensation and Welfare Service, labour groups and others. The signing took place at the Korea Construction Workers Mutual Aid Association in Jung-gu, Seoul.

Under the agreement, relevant institutions will review ways to use non-financial information in credit scoring and loan screening. The data include payment records for the mutual aid association's retirement contributions and the welfare service's records of labour-providing activities.

The aim is to reflect income activity and continuity of work in financial screening for workers whose situations were difficult to assess based only on existing financial transaction information.

Financial authorities plan to draw up a plan within this year to promote personal alternative credit scoring using such work-history information. They will also develop tailored financial products that consider the income and employment characteristics of construction workers and labor providers, with a launch planned during 2027.

Authorities will also expand links between in-house debt restructuring by financial companies and debt adjustment programmes run by the Credit Recovery Committee. They will strengthen support for financial counselling, financial planning counselling and financial education.

Financial Services Commission Chairman Lee Eok-won (이억원) said, "I ask financial companies to develop a range of inclusive finance products and make active and preemptive efforts on debt restructuring."

Labor Minister Kim Young-hoon (김영훈) stressed, "We will work closely with relevant institutions so that the work and labour-providing histories of construction workers and labor providers are fairly evaluated in the financial sector."

Financial Supervisory Service Governor Lee Chan-jin (이찬진) also said, "We will support efforts so that the income and work characteristics of construction workers and labor providers can be more faithfully reflected in financial screening."